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作者：Nagler, Markus; Rincke, Johannes; Winkler, Erwin
作者单位：University of Erlangen Nuremberg; Leibniz Association; Ifo Institut
摘要：Work-related stress has reportedly increased over time. Using worker-level survey and experimental data, we investigate the labor market consequences of work pressure. We build a measure of pressure strongly associated with adverse health outcomes and show that pressure comes with a sizable earnings premium, reflecting workers' willingness-to-pay to avoid pressure. As expected, we do not find a premium among civil servants who face strong labor market frictions. Our experimental evidence is co...
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作者：DeStefano, Timothy; Kneller, Richard; Timmis, Jonathan
作者单位：Georgetown University; University of Nottingham; The World Bank
摘要：Cloud computing has shifted how firms access IT away from investment in fixed capital to pay-on-demand services that facilitate remote and simultaneous use. Using firm-level data, we examine the impact of cloud adoption on firm performance and organizational geography with an IV approach that exploits cross-section and time-series variation in fiber broadband speeds as instruments. Cloud leads younger firms to increase revenue, employment, and productivity, whereas incumbent firms experience n...
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作者：Howes, Cooper
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：While investment in most sectors declines in response to a contractionary monetary policy shock, investment in the manufacturing sector increases. Using manually digitized aggregate income and balance sheet data for the universe of US manufacturing firms, I show that this increase is driven by the types of firms which are least likely to be financially constrained. A two-sector New Keynesian model with financial frictions can match these facts; unconstrained firms take advantage of the decline...
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作者：Choi, Joonkyu; Goldschlag, Nathan; Haltiwanger, John; Kim, J. Daniel
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; University System of Maryland; University of Maryland College Park; University of Pennsylvania
摘要：We show that early joiners-nonfounder employees in the first year of a startup-play a critical role in shaping firm performance. We use administrative employer-employee matched data on U.S. startups and utilize premature death as a natural experiment that exogenously separates talent from startups. We find that losing an early joiner has large negative effects on employment and revenues that persist for at least ten years. In contrast, losing a later joiner yields only a small and temporary de...
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作者：Li, Hongbin; Qiu, Xinyao
作者单位：Stanford University; University of Hong Kong
摘要：Using administrative data on the Chinese National College Entrance Examination, we study how left-digit bias affects college applications. We find strong discontinuities in students' admission outcomes at ten-point thresholds. Students with scores just below multiples of 10 make more conservative college application choices that place them into less selective colleges and majors. In contrast, students who score at or just above multiples of 10 aim at and achieve higher but are at greater risk ...
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作者：Agranov, Marina; Ortoleva, Pietro
作者单位：California Institute of Technology; National Bureau of Economic Research; Princeton University
摘要：A growing literature has shown that people sometimes prefer to randomize between two options. We investigate how prevalent this behavior is in an experiment using a novel and simple method. Subjects face a list of questions in which one of the alternatives is fixed and the other varies, like a Multiple Price List, but in each row they can randomize between the options. We find that the majority of subjects chose to randomize in the majority of questions, and notably, they did so for ranges of ...
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作者：Baskaran, Thushyanthan; Hessami, Zohal
作者单位：Ruhr University Bochum; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); Leibniz Association; Ifo Institut; IZA Institute Labor Economics
摘要：We investigate how female representation impacts policymaking using the example of child care and new hand-collected data on local council elections in Bavaria. RDD estimations (mixed-gender races for last party-specific council seats) show that an additional female councilor accelerates the expansion of public child care by 40%. We also document an important nonlinearity: an additional woman accelerates the expansion of child care only in councils with few women. Council meeting minutes revea...
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作者：Cherchye, Laurens; Demuynck, Thomas; De Rock, Bram; Lanier, Joshua
作者单位：KU Leuven; Universite Libre de Bruxelles; KU Leuven; Southwestern University of Finance & Economics - China
摘要：We present a statistical test for the hypothesis of (approximate) utility maximization on the basis of nonparametric revealed preference conditions. We take as null hypothesis that the consumer behaves randomly, and we reject this hypothesis only if the data provides sufficient evidence to support the alternative hypothesis of approximate utility maximization. Our statistical test uses a permutation method to operationalize the principle of random consumption behavior. We show that our test (i...
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作者：Antler, Yair; Arad, Ayala
作者单位：Tel Aviv University
摘要：We experimentally examine how individuals commit to a cutoff stopping rule when facing a sequence of independent lotteries. We identify two main behavior patterns: (a) a small share of participants consistently choose stopping rules whose gain bound (i.e., the accumulated gain at which the sequence stops) is larger than the loss bound, and (b) a larger share of participants consistently choose rules whose loss bound is larger than the gain bound. We introduce a procedural choice model that acc...
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作者：Cha, Jooyoung; Chiang, Harold D.; Sasaki, Yuya
作者单位：Vanderbilt University; University of Wisconsin System; University of Wisconsin Madison
摘要：We propose a new inference method in high-dimensional regression models and high-dimensional IV regression models. The method is shown to be valid without requiring the exact sparsity or L-p sparsity conditions. Simulation studies demonstrate superior performance of this proposed method over those based on LASSO or random forest, especially under less sparse models. We illustrate an application to production analysis with a panel of Chilean firms.
